The prize fund afforded by the Association of Tennis Professionals (ATP) for the professional circuit of men’s tennis will surpass US$90m by 2014 according to chairman and president Adam Helfant.
The increase in prize funds include a 9 per cent rise in each of the next three years for the nine Masters 1000 events, which take place in cities such as Cincinnati, Paris, Rome and Shanghai. In addition, the season-ending World Tour Finals event will see a 30 per cent increase in prize money, with the amount available to the eight participating players set to rise from $5m to $6.5m over the next three years. The world's top 12 players will also receive a bonus pool rise of 33 per cent, from $6m to $8m in 2014.
However, due to the fact that the four annual Grand Slams – the Australian Open, French Open, Wimbledon and US Open – are governed by the International Tennis Federation rather than the ATP, prize pots for these events will not be affected.
Much of the success of the ATP in recent years has been placed on the head of executive chairman and president Adam Helfant, who is set to leave the association in its healthiest ever position having announced that he will be moving on at the end of the year.
Helfant stated: “We are privileged to be experiencing a golden era in men's professional tennis. It is fitting that the commitment and excellence of the players is recognised and rewarded in this way. We are very pleased to have reached this agreement that reflects the fact that business across the ATP World Tour is stronger than ever.”